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Question:

To expedite the scheduling process, a project manager alters an existing schedule management plan from a previous program for use on the current one. In this case, the schedule management plan reflects:

A An organizational process asset

explanation

Organizational process assets contain historical information from past archived projects, lessons learned, templates, policies, procedures, and other valuable information. In this case, the project manager is using a previous schedule management plan as a template and tailoring it for use by the current project. This is recommended practice and prevents having to reinvent the wheel for every project. Instead, the effort is placed on increasing the efficiency and refining existing practices and templates.

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Within predictive life cycles, this term is used for both costs and schedules to build what you’ll measure against later in the Executing and Monitoring and Controlling processes.

Baseline

Cost baselines and schedule baselines are used to measure performance in the Executing and Monitoring and Controlling processes.

A good project manager knows that:

Change is inevitable.

It is impossible, and sometimes inefficient, to plan out a project to perfection. There are too many moving parts and factors, regardless of the similarity that projects may have to others managed in the past. A good project manager understands that change is inevitable, which is why project maintenance, varying project life cycles, and overall project management is so important.

Select two characteristics of Agile teams? (Select two.)

The team ranges in size from three to nine members.

Team members are 100 percent dedicated to the team.

While Agile teams vary, typical characteristics include the following: they range in size from three to nine team members, they are colocated, and they are 100 percent dedicated to the team.

The lowest level of the work WBS is?

Work package

The lowest level of the WBS is the work package level. The next step from there would be to decompose the work packages into the activity lists. The activity list, however, is not considered to be part of the WBS itself. Planning packages and control accounts are placed within the WBS but are not the lowest levels.

You are in the Planning stage of the project and have just kicked off activities related to the Determine Budget process. In addition to the cost baseline, what is a likely outcome of this activity?

Project funding requirements

The Determine Budget process yields the cost baseline, project funding requirements, and updates to project documents. The project funding requirements represent the total funding requirements and periodic funding requirements of the project.

Which contract type poses a higher risk for the customers?

Cost-reimbursable.

Cost-reimbursable contracts are a type of contract where the customer reimburses the contractor for all of their costs, plus a fee. This means that the customer is responsible for any unforeseen costs that arise during the project.
Fixed-price contracts, on the other hand, are a type of contract where the contractor agrees to complete the project for a set price. This means that the contractor is responsible for any unforeseen costs that arise during the project.
Therefore, cost-reimbursable contracts pose a higher risk for customers because they are responsible for any unforeseen costs. This risk can be mitigated by carefully defining the scope of work and the deliverables in the contract, but it is still present.

You are in the process of facilitating a working session with the project team to separate the project deliverables into smaller chunks of work. What process are you taking?

Create WBS

You are carrying out the Create WBS process. The purpose of the process is to subdivide the project deliverables and project work into smaller, more manageable components.

Select best description of virtual teams?

Team members located outside of the primary physical office where the project takes place

Virtual teams are team members located outside of the physical office where the project is primarily taking place.

Ron meets with Bob, the appointed project manager, to ask when the other project team members will be assigned to the project he is scheduled for. Since team assignments have not been given yet, how does Ron know he will be appointed to the project?

Ron was pre-assigned and listed in the project charter.

The question is referring to pre-assignments, which can be negotiated within the contract, can be included in the project charter, or can be a result of a project that revolves around a staff member’s expertise. Pre-assignments is used as a tool and technique of the Acquire Team process.

The stakeholder approaches the project manager to report that the schedule must be adjusted to complete one week earlier than originally planned. If a predictive approach is practiced to manage the project, what would be the preferred approach for the project manager to take in order to make this occur?

Fast-track the schedule

The project manager has told the scheduler that the schedule must be compressed by one week. That means that we will use one of two schedule compression techniques: crashing or fast-tracking, both of which are options. When possible, select the lowest-cost option first, which would be fast-tracking.

A product owner is representing risk management activities for a next release. She sits down with the team to perform a risk assessment exercise and takes a probability and impact matrix. Which of the following statements are correct regarding the probability and impact matrix? (Select three.)

It prioritizes risks according to their potential for meeting the project’s objectives.

It’s defined in the risk management plan, which is an output of the Plan Risk Management process.

It’s used as a tool and technique in the Perform Qualitative Risk Analysis process.

The probability and impact matrix is not an input to the Perform Quantitative Risk Analysis process. It is used to prioritize risks, it’s defined in the risk management plan, and it’s used as a tool and technique in the Perform Qualitative Risk Analysis process.

What might be a good strategy for balancing out performance between the schedule and budget?

Level out resource usage to further spread out cost over time

Based on the performance indexes provided, the project is 10 percent ahead of schedule but over budget. Leveling out resource usage is a strategy used to spread out costs over time. This helps in reducing sudden spikes in spending, although it may lead to lengthening the schedule.

Sue, the project manager of a pet facility build-out project, plans on attending an upcoming Pets for the Environment expo to mingle with other pet facilities and see the latest widgets and technology used by the industry. This is an instance of:

Networking

In this question, you’re taken to the Plan Human Resource Management process. What Sue is doing is adding value to the project. Networking is a form of informal interaction with others as a way of understanding political and interpersonal factors that impact the project and developing industry relationships and partnerships (if done within the company, it would be building relationships and partnerships internally).

Which of the following reflects the spectrum of the Conscientiousness domain involved in the Big Five personality assessment?

Efficient versus careless

The Five-Factor Model, also known as the Big Five personality traits, is a personality survey that identifies five broad dimensions used to describe an individual’s personality. The five factors are openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism. The conscientiousness domain measures where individuals fall on the spectrum of efficient versus careless.

This is an instance of:

Halo effect

Halo effect is when a person’s strong traits are perceived as an indication of another trait. In this example, it is thought that because Jon is good at his job, he must therefore be a good project manager. But the job of a research technician has different required skills than the job of a project manager. The most common example given is that an attractive person, such as a celebrity, must be intelligent, which is why they are often used in advertising.